ONE TIME OFFER. In view of our having a lot of interest in buying our business no one in the hobby has the money. WE THEREFORE ARE MAKING A ONE TIME OFFER.
OUR NET ASSET VALUE AT COST IS AS FOLLOWS:
PATTERNS AND CORES $97,229.20
TOOLING AND FIXTURES $33,465.99
OFFICE EQUIPMENT $1,332.13
OFFICE FURNITURE $1,212.05
ACCOUNTS RECEIVABLE $7,263.40
TOTAL ASSETS $1,376,276.17
We will sell the entire business, retail, manufacturing and all other assets for $1,000,000.00. That is A 27% discount and is less than the cost of inventory and you are getting the manufacturing business and tooling assets for free.
We supply a large number of the parts available from all of the dealers. We have sales of $500,000.00/year
If the business doesn't sell my son Mark will take over the business.
Please! let Mark take over the Business. You have worked too hard for too long to make the company what it is and the products You Design,manufacture,and sell are special. It is a Family legacy You and Your family have worked hard to create, Keep it in the family.and help keep the Ts on the road. Thank You for Your service to the old car community.
My 2 cents worth maybe less.
kind words Jim. It makes me happy that someone appreciates what we have done. There are a lot of jerks out there that don't. I would like to keep it in the family and that's probably what's going to happen since no one has any money. But i could use the money for retirement. Glen
Mr Glen Chaffin,
Sir you deserve rest and relaxation beyond any words. My father, Robert E Lee I believe you know well (cranky as always) only speaks highly of you and the same with I.
You are Glen a Giant to us in the hobby, Mark will do good as we will support him in the same rites as you.
I know the money up front would help in the immediate future, but I believe things will work out better than you think. Hard work always does.
As my Dad would say, “time to go fishing”.
All the Very Best to You Mr Chaffin,
Hank and Robert in Tin-A-See
Glen, I too would like to echo Jim D's comments. But frankly, this is a decision you and your family must make. You, your son, and much of your family have been very important assets to this hobby for a very long time! I have met you a few times, I have met Mark and his wife at Bakersfield. You are all wonderful people.
Yes, for my own selfish reasons, I do hope Mark takes over the business. I think it could be a very good thing for him, and maybe for you as well. But that is not for me to decide.
I have been trying hard to not drift into political comments on this site lately, but that is difficult (especially for someone like me that is passionate about this nation, its history, and its potential futures). No nation or society can prosper for long once the will of a small minority in a greedy quest for money and power oppresses the majority and takes away their opportunities to prosper as well.
I think you have been caught in such a trap. There are a lot of people in this hobby that would like to take over your business, some of them, people that could do the job well. However, since they are not among the "chosen elite", they have for too long had to struggle while the "chosen elite" rob them of money and opportunities. Hence, they do not have the means to finance such a large purchase as your business, even at a bargain price.
Whatever you, Mark, and your families decide, I wish for your wonderful success and prosperity! You, and Mark, deserve that.
And, if anyone out there, that does happen to have the means? And the interest in the hobby? Please talk to Glen. Allow him those options. He has earned it.
Best wishes Glen!
More kind words, Thank you Henry and thank you Wayne. Your comments are greatly appreciated and help me forget the comments made that were not so complimentary. The hobby is full of nice people and that makes the not so nice bearable. It has been a pleasure and lots of fun building the business, not for the money but for the pleasure of helping my fellow Model T lovers.
we have had several calls but no takers yet. Someone is missing out on a lifetime opportunity.
If Mark does take it over, one significant improvement would be to add the facility for on-line ordering. Fax machines are a thing of the past and for example, I cannot locate anyone who still has one operating.
I'm ready and willing. I did share several ideas (such as the ones mention above) to improve operations. I have the knowledge and know how (RAJO Reproductions LLC). Thought we had worked through the arrangements already. Time will tell.
Forgot to mention. I also hold a Bachelor's Degree in Business. It was also recommended we add more phone lines. Again, I'm ready and willing to carry on. Just sayin.
Mark we have spoken before and you said the infrastructure was full retail. Is the inventory full retail also as $1,227,213.79 is a very big number for inventory.
Good luck on the sale Mark
The infrastructure is listed at actual cost as well as the inventory.
Dad has spent a lifetime building the business and he should be proud of his accomplishments. I know he has some difficult decisions to make. I support him 100%.
On line ordering is the way to go. But Fax machines are alive and well. Most companies still have them. Smith & Jones, Snyder's, Mac's, & lang's still list a fax number in their current catalogs. I use a fax machine when scanning in a document is out of the question and a lot faster.
Joe, Mark is right, the numbers quoted are all at cost, not retail. We would actually be selling at a loss, but money speaks. If no one is interested it will definitely go to Mark if he is still interested. He is certainly capable of continuing its success. But he is already spoiled too much being my son. But i guess that is what dads are best at. But as i said this is my final offer. If it doesn't sell then it's all Marks. And if he changes his mind, then it will just die with me.
Glen, We appreciate all you've done and continue to do for our hobby for all these many years. The service you provide to our hobby, especially with the Ruckstells, is outstanding. I certainly hope that Mark or someone else continues your tradition of good service. From a very satisfied customer, Thank You very much.
I can certainly attest to Glen being a true man of his word over many years of doing business with him.
When I was restoring my first Model T in the early 80's I would often write Glen (phone calls from Canada were expensive) asking about a particular T part. More often than not the part would show up in the mail with a hand written note explaining its installation and a receipt.
Later on, when I could afford to call by telephone, the drill was the same. Glen wouldn't know shipping costs to Canada so would ship the parts to me and include the shipping costs in the hand written invoice. I always appreciated his trust of someone he had never met or even spoken with.
In the mid 90's I got a chance to drop by his shop and was treated like an old friend.
When I hear about on-line ordering I wonder how many hand written letters Glen has received and responded to over the many wonderful years of service.
The Ruckstell Axle was a real challenge, just like Mark's Rajo project, but they both worked out well. All of our products have worked out well with minor problems. Guess we were lucky or maybe we knew what we were doing! Ha.....
I shouldn't do this but I'm tired of the talk. We all know the attributes, if you really like Glen and want to help, BUY THE BUSINESS! After all he's done for us, that's what he really needs.
Mr. Chaffin, I wish you and your son the best. I admire what you've done for the hobby and, as a small business owner myself, I admire anyone who's been able to start a business from scratch and keep it going for decades.
I'll be buying a Ruckstell in 2020 and hope the business is still around when the time comes.
Hi Ed and Don, Thanks for the comments. Ed Archer the infamous Mr. Speedster with the fabulous mustache and long time friend. Wish it was as easy as that Ed but no one has the money. And that is why this is my final offer. I would love to see Mark take over the business but i could use the money for retirement. I plan to live at least another 20 years and hope I still have the energy to restore my 1909 and 1911 Tourings. Don, we have them in stock, just give us a call. Thanks Glen